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If you’re building up your savings, a checking account may be the best option for you. Checking accounts ensure easy access to your funds for life’s everyday and unexpected expenses, and provide fantastic perks like cash signup bonuses, cash back on purchases, early payday, and more. Get started today with the best checking accounts available from our partners.
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Bottom Line: Why We like the Truist One Checking Account
Experience the convenience and benefits of Truist One Checking. It's not just another checking account, it's a financial tool designed to cater to your everyday banking needs.
- Earn a $400 Bonus: To receive the bonus, open a new Truist One Checking account online between October 31, 2024 and April 30, 2025 using promo code AFL2425TR1400. Receive at least 2 qualifying direct deposits totaling $1,000 of more within 120 days of account opening. For new checking clients only. Terms apply.1
- No Overdraft Fee, Low Minimum Deposit: No overdraft fee to worry about. Minimum opening deposit is just $50.
- $100 Negative Balance Buffer: Eligible clients can overdraw their account up to $100 without any penalties, provided certain conditions are met.2
- Avoid Monthly Maintenance Fee: There are ways to waive the monthly maintenance fee, including maintaining a certain balance, having a linked small business checking account, or being a student under the age of 25.3
- Benefit Levels: Enjoy up to five benefit levels with automatic level adjustments based on your Truist One Portfolio balance.
- Member FDIC: Your funds are insured up to the legal limit.
Frequently Asked Questions
When picking a new bank account, there are a few key things to consider, like the types of products and services they offer, the fees they charge, and the bonuses available. If you prefer visiting a branch, check if the bank has locations near you. And remember, you don’t have to stick with just one bank — opening different accounts at different banks can help you get the best rates and offers.
Checking accounts are a great starting point for managing your money because they’re easy to use and secure. You can use them for everyday tasks like paying bills, shopping, and receiving your paycheck. Having a checking account can help you keep your finances organized. For example, you can set up direct deposits from your employer and automate bill payments, making things more convenient. Plus, with mobile apps, you can check your account, transfer money, and make payments from anywhere, whether you're at home or on the move.
Requirements vary by bank for opening an account, but you’ll typically need to be at least 18 years old and have a valid Social Security number or Individual Taxpayer Identification Number. You’ll also need to submit photo identification and provide proof of your current address.
You should keep at least the minimum balance in your checking account and ensure you have enough to cover all your monthly bills. It’s a good idea to have a cushion to protect yourself from accidental overdrafts, but you shouldn’t keep too much money in your checking account if you could earn a better APY by moving some of that money into a savings account.
There’s no magic number; it’s totally okay to have one or multiple checking accounts in your name. Sometimes, having more than one checking account can make money management and budgeting easier. For example, you might want a separate checking account for spending on your kids, or a business checking account for your business expenses.
You may have noticed the words "Member FDIC" or "FDIC Insured" when shopping for a bank. The Federal Deposit Insurance Corporation provides deposit insurance for consumers, specifically to protect their funds if their bank fails.
Accounts that are insured by the FDIC must be deposit accounts, which include checking accounts, savings accounts, money market accounts, and CDs (certificates of deposit). With FDIC insurance, you’ll get up to $250,000 in insurance per owner, per insured institution, per account category.
How we chose these products
FinanceBuzz evaluated a selection of bank accounts offered by our partners, looking at various criteria including account fees, bonus offers, and more. We did not review all products in the category and compensation was considered when evaluating and ordering the products.